BENSALEM, Pa., Sept. 21, 2023 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Syneos Health, Inc. ("Syneos" or the "Company") (NASDAQ: ).
Class Period: September 9, 2020 – November 3, 2022
Lead Plaintiff Deadline: September 25, 2023
Investors suffering losses on their Syneos investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to .
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that Syneos's business development capabilities had been materially impaired by workforce reductions and leadership and operational changes, as well as labor force turmoil caused by the COVID-19 pandemic; (2) that Syneos had struggled to integrate recent acquisitions, causing the Company to suffer from a bloated and confused organizational structure and impairing the Company's ability to provide comprehensive or effective customer engagement across its product portfolio; (3) that Syneos was suffering from acute competitive disadvantages as clinical trials moved to remote monitoring and decentralized administration, as the Company lacked the tools possessed by some of its rivals to successfully run remote and decentralized trials, such as certain data visualization and statistical modeling capabilities, and the Company had failed to adapt to changing business demands in the wake of the COVID-19 pandemic; (4) that Syneos's backlog, book-to-bill ratios, and net new business awards had been artificially inflated by more than $500 million through the inclusion of reimbursable expenses that the Company would never collect; (5) that, as a result, Syneos was struggling to execute on its existing contracts and to agilely respond to its client needs, causing the Company to suffer client dissatisfaction across its client base; (6) that, as a result, Syneos was exposed to a material undisclosed risk that the Company would lose customers, be unable to grow its client base or win significant contract renewals, and cede market share to its rivals; and (7) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to , or visit our website at .
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Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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